QUESTION
member removal in llc operating agreement
Asked on May 09th, 2013 on Business Law - California
More details to this question:
I'm in a single person california llc at the moment and adding a new member. I want to add a provision in the operating agreement for a majority membership interest to be able to remove another member for non performance of duties or really any other reason. Can you provide an example of what that verbiage should look like?
1 ANSWER
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Doland & Fraade
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Your idea is very good. What you need is a buy-sell agreement and perhaps also a management agreement. The issues are too extensive for an online posting, but a local business lawyer should be able to give you something useful in 2 - 3 hours of legal services.
Answered on May 10th, 2013 at 3:07 PM